Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up to $28.84

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARSGet Free Report)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $28.84, but opened at $29.60. Tarsus Pharmaceuticals shares last traded at $28.70, with a volume of 12,514 shares trading hands.

Analyst Upgrades and Downgrades

TARS has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. HC Wainwright upped their price target on shares of Tarsus Pharmaceuticals from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. The Goldman Sachs Group upped their price target on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Jefferies Financial Group upped their price target on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays upped their price target on shares of Tarsus Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

View Our Latest Research Report on Tarsus Pharmaceuticals

Tarsus Pharmaceuticals Trading Down 5.2 %

The company has a market cap of $1.03 billion, a PE ratio of -5.73 and a beta of 1.10. The business’s 50-day simple moving average is $34.63 and its 200-day simple moving average is $29.84. The company has a current ratio of 8.01, a quick ratio of 7.92 and a debt-to-equity ratio of 0.11.

Tarsus Pharmaceuticals (NASDAQ:TARSGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.14. The business had revenue of $27.61 million for the quarter, compared to the consensus estimate of $17.94 million. As a group, analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC bought a new position in shares of Tarsus Pharmaceuticals during the 1st quarter valued at $313,000. Price T Rowe Associates Inc. MD acquired a new position in Tarsus Pharmaceuticals in the 1st quarter valued at $12,640,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Tarsus Pharmaceuticals by 1,113.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,000 shares of the company’s stock valued at $32,642,000 after buying an additional 824,000 shares during the last quarter. Vanguard Group Inc. grew its stake in Tarsus Pharmaceuticals by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock valued at $66,398,000 after buying an additional 231,131 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Tarsus Pharmaceuticals in the 1st quarter valued at $2,989,000. Institutional investors own 90.01% of the company’s stock.

About Tarsus Pharmaceuticals

(Get Free Report)

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.

Further Reading

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